---
title: "Price Review 2024 Professional services - Prior Information Notice"
ocid: "ocds-h6vhtk-034d3d"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-034d3d"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-034d3d.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-034d3d.json"
source: "Find A Tender Service"
current_stage: "Planning"
buyer: "WATER SERVICES REGULATION AUTHORITY (OFWAT)"
published: "2022-07-01"
---

# Price Review 2024 Professional services - Prior Information Notice

Buyer: WATER SERVICES REGULATION AUTHORITY (OFWAT)  
Current stage: Planning  
OCID: ocds-h6vhtk-034d3d

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## Summary

The Water Services Regulation Authority (Ofwat) is currently in the planning stage of its procurement process for professional services related to the Price Review 2024 (PR24). The title of the tender is "Price Review 2024 Professional services – Prior Information Notice", which falls under the public utilities sector. Ofwat intends to publish an invitation to tender in September 2022, with the goal of having a contract in place by Spring 2023. A workshop is scheduled via MS Teams on 20 July 2022 for interested parties to learn more and ask questions, as full ramp-up of resources is expected by Autumn 2023, leading up to a critical business plan submission deadline on 2 October 2023. The total estimated budget for this service procurement is £1,000,000.

This tender presents an excellent opportunity for businesses specialising in consultancy services related to economics, engineering, and management to engage with a significant public sector initiative. Companies that can provide flexible and high-level expertise, particularly during peak workload periods, will be well-positioned to compete. With Ofwat looking for resource solutions that can adapt to fluctuating requirements, firms capable of offering diverse skills in regulatory finance, engineering, and economic advisory are encouraged to consider this tender, which aims to enhance regulatory capacity for the water sector in England and Wales.

## Notice

Ofwat intends to publish an invitation to tender in September 2022 for professional services relating to economics, engineering and management consultant expertise to help us deliver our Price Review 2024 (PR24). The intention is to have the contract in place for Spring 2023, a core team established by April 2023 and full ramp-up in Autumn 2023 prior to business plan submission on 2 October 2023.

### Lot Information

Lot 1

Procurement timeline Ofwat intends to publish an invitation to tender in September 2022 for professional services relating to economics, engineering and management consultant expertise to help us deliver our Price Review 2024 (PR24). The intention is to have the contract in place for Spring 2023, a core team established by April 2023 and full ramp-up in Autumn 2023 prior to business plan submission on 2 October 2023. What a Price Review is Ofwat is the economic regulator of the water and wastewater sector in England and Wales. One of the ways we regulate is to set the price, investment, and service package that customers receive. Monopoly water companies, working with their customers, will develop business plans to cover the period of the next price control (2025-2029). Our role is to: set the framework and methodology check and challenge the company's business plans, and determine the five-year price, service and incentive package for each company The problem that we intend to solve During the final determination stage of the price review, from September 2023 to December 2024, our outputs as a regulator will increase significantly. As part of our resourcing solution, we want to procure flexible resourcing options from the private sector to help with the peaks of activity. They will also provide additional skills in regulatory and corporate finance and tax, engineering, economics, financial modelling and regulatory policy advice. By way of an example of the issue we face, over the course of the 18-month contract from our last price review (PR19) our peak resource requirement from consultancy and engineering firms peaked at 31 staff members in one month but in others it was as low as 5 FTE. The options that we are considering for PR24 There are currently two options we are considering to meet this requirement. A consortium of companies with one acting as Lead Two or three separate contracts with companies to cover the main areas of expertise that we require: economics, engineering and management consultancy. Next steps We will hold a workshop via MS Teams on 20 July 2022 before proceeding with the procurement process. Please let us know if you are interested in attending the event by emailing pr24.pmo@ofwat.gov.uk. We welcome questions and comments in advance and there will be a full Q&A session during the workshop.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/018070-2022 |
| Notice type | Planning Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Not Specified |
| Procurement method details | Not specified |
| Tender suitability | Not specified |
| Awardee scale | Not specified |
| All stages | Planning |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 1 Jul 2022 |
| Submission deadline | Not specified |
| Future notice date | 29 Jul 2022 |
| Award date | Not specified |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £1,000,000 |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Planned |
| Lots status | Planned |
| Awards status | Not specified |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | WATER SERVICES REGULATION AUTHORITY (OFWAT) |
| Locality | BIRMINGHAM |
| Post town | Birmingham |
| Postcode | B5 4UA |
| Country | England |
| ITL 1 | TLG West Midlands (England) |
| ITL 2 | TLG3 West Midlands |
| ITL 3 | TLG31 Birmingham |
| Local authority | Birmingham |
| Electoral ward | Ladywood |
| Westminster constituency | Birmingham Ladywood |
| Delivery location | Not specified |

## CPV Codes

### Divisions

- 65 - Public utilities

### Codes

- 65000000 - Public utilities

## Release History

- 1 Jul 2022 at 15:08 - Planning - Planning Notice - https://www.find-tender.service.gov.uk/Notice/018070-2022

## Notice URLs

- http://www.ofwat.gov.uk/
- https://www.mytenders.co.uk/Search/Search_Switch.aspx?ID=226701
- https://www.mytenders.co.uk/search/Search_AuthProfile.aspx?ID=AA24607

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-h6vhtk-034d3d. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-034d3d.json.